Shares of Cisco Systems (NASDAQ: CSCO) are up in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2023. Adjusted earnings per share came in at $0.86, which beat analysts’ consensus estimate of $0.83 per share.
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In addition, sales increased 6% year-over-year, with revenue hitting $13.6 billion. This was also higher than the $13.288 billion that analysts were looking for.
Is CSCO Stock a Buy or Sell?
CSCO stock has a Moderate Buy consensus rating based on six Buys, 11 Holds, and one Sell assigned in the past three months. The average CSCO stock price target of $52.62 implies 18.43% upside potential.
